USA: Chiquita ask investors to agree restructuring plan
Chiquita Brands International , the company at the hub of a trade dispute between the US and the European Union over bananas, has announced that it will halt debt repayments and ask investors to consent to a restructuring of US$862mn (€914.3mn ) of bond debt. The action could culminate with the banana company filing for Chapter 11 bankruptcy protection later this year, the company said Tuesday. Any proposed deal with bondholders would involve a swap of debt for equity.
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